The mix of home sales in Las Vegas has changed.
Housing
WASHINGTON — The foreclosure crisis likely will persist well into next year as high unemployment pushes more people out of homes, pulls down housing prices and raises concerns about the broader economic recovery.
Things aren’t as bad as they could be in the Las Vegas housing market, which is a piece of positive news to take into the end of one of the worst years on record.
The real estate industry in Las Vegas has another 18 months of stagnation before things start to turn around, a former Hughes Corp. executive said Wednesday at The Orleans.
NEW YORK — The number of home- owners on the brink of losing their homes dipped in October, the third straight monthly decline, as foreclosure prevention programs helped more borrowers.
Hold off on those reports that the Las Vegas housing market has turned the corner.
WASHINGTON — The Obama administration’s mortgage relief program has reached one in five eligible homeowners, a government report says, but most of those borrowers are on temporary trial plans that have yet to be made final.
A tax credit extension for homebuyers worth an estimated $10.2 billion to $21 billion nationally will help revive Southern Nevada’s dismal real estate market, Reps. Dina Titus and Shelley Berkley, D-Nev., told Realtors on Tuesday.
The housing bust left homebuilders with plenty of red ink on their books as they walked away from swaths of land they no longer needed.
After a 10-month slowdown, heavy-duty building work has resumed at Tivoli Village at Queensridge, a mixed-use retail, office and residential center at Rampart Boulevard and Alta Drive. The center’s developers, IDB Development Corp. of Israel and Great Wash Park of Las Vegas, set a December 2010 opening date for Tivoli Village’s 370,000-square-foot first phase. Construction on the center’s remaining 330,000 square feet is scheduled to begin shortly after the opening.
WASHINGTON — The number of buyers snapping up new homes dipped unexpectedly last month as the effects of a temporary tax credit for first-time owners started to wear off.
Some real estate professionals see a shaft of light in the real estate market gloom enveloping Southern Nevada, although another analyst says he still sees little more than a glimmer so far.
Norman McCullough has become a 76-year-old pain that won’t go away for Sun City Anthem’s homeowner association board members.
NEW YORK — Jillian Lung says she’s no environmentalist. Still, she couldn’t pass up a chance to install a carpet of solar panels atop her co-op in Queens.
Real estate broker Forrest Barbee believes the free market generally works best without government interference. But he can’t dispute that a tax credit for first-time homebuyers is doing what it was meant to: spur home sales.
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